What is ether.fi?

ether.fi is a decentralized Liquid Retaking protocol developed on the Ethereum network. This protocol has the role of providing liquidity for LSTs that are retaken by users.

Highlights of ether.fi

Stakers create and hold their own staked ETH keys.

With ether.fi, the staker has control over the keys while still being able to delegate staking to the node operator. This significantly reduces counterparty risk for users.​

One NFT is minted for each validator launched via ether.fi.

The ether.fi mechanism will mint one NFT for each validator launched through the protocol. The Liquid Staking Derivative eETH token is minted from a liquidity pool containing these NFTs. These NFTs control 32 staked ETH and store metadata related to the validator such as: the client it runs, its geographical location, the node operator, and any node services it is running. These NFTs can be used to create a layer on top of staking infrastructure.

Project information

ether.fi is currently the Liquid Restaking protocol with the largest TVL of up to 1.79 billion USD, equivalent to 530 thousand ETH being staked on this protocol. ether.fi offers users an APR of around 3.95%. Since its launch, this protocol has issued more than 353.3 million EigenLayer Points and about 24.7 billion ether.fi Loyalty Points.

Compared to competitors in the same field, ether.fi shows a clear superiority, the TVL of this protocol is 47% higher than the TVL of Puffer Finance and almost 3 times higher than the TVL of Renzo.